We recently compiled a list of the Investor Optimism Boosts Jump of These 10 Stocks. In this article, we are going to take a look at where Inari Medical Inc. (NASDAQ:NARI) stands against the other stocks.
Wall Street’s main indices ended Monday’s trading session on a mixed note, with the Dow Jones Industrial Average the only decliner, dipping by 0.06 percent or 25.57 points to close at 42,706.56.
In contrast, the S&P 500 and Nasdaq Composite both registered gains, up 0.45 percent and 1.24 percent, respectively.
Monday’s overall rally was largely driven by strong performances in the bitcoin mining and quantum computing sectors, with 10 companies seeing notable gains.
To come up with the day’s top advancers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
A close-up view of a technician wearing protective gloves while installing a mechanical thrombectomy system.
Inari Medical Inc. (NASDAQ:NARI)
Inari Medical became Monday’s top gainer, jumping by 30.6 percent to end at $65 each following news that medical device manufacturer Stryker is reportedly in the final stages of negotiations to acquire Inari.
If talks end successfully, an announcement on the acquisition is expected to be made as early as this week.
Inari Medical, which has a market value approaching $3 billion, is expected to enhance Stryker’s portfolio by expanding its treatment options for venous thromboembolism, a condition characterized by blood-vein clotting, and other venous diseases.
In recent weeks, Inari has signaled intentions to go on sale after receiving acquisition interest from Stryker and other parties. Reports said that other potential buyers could still approach Inari and that there is a possibility that no deal may be finalized with any of the interested parties.
Overall NARI ranks 1st on our list of the stocks that soared today. While we acknowledge the potential of NARI as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than NARI but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.